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When you see credit cards for bad credit scores advertised, they’re often secured credit cards (meaning that you have to provide a security deposit to open the account). However, the First National Bank Visa® is an unsecured credit card for poor credit, meaning no security deposit is required.
Unsecured credit cards can be cheap in the short term, but they often cost you more in the long run because of fees and high interest rates. The First National Bank Visa® has no account-opening fees or monthly fees, but it does have an annual fee of $49–$75.
Even though the First National Bank Visa® is suitable for people with lower credit scores, it’s not open to everyone. It’s by invitation only, so you can only apply if you’ve already been sent an offer in the mail.
Quick Review
The First National Bank Visa® is a credit card with no deposit requirement, no account-opening fees, and no monthly maintenance fees. Additionally, cash advance fees are lower than the average, at only 2%.
On the downside, there are annual fees of $49–$75, possible fees for foreign transactions, and a high APR of 29.90% (fixed) (so it’s not cheap to carry a balance). Balance transfers are also not available, making the card unsuitable for anyone trying to consolidate credit card debt.
Initially, the First National Bank Visa® will give you a line of credit around $350–$1,500 (and you may later be able to increase your credit limit). If this is adequate for you, then the First National Bank Visa® offers a reasonable short-term option for credit building.
However, it’s still worth looking at alternatives before you sign up. We’ve seen plenty of cards offering lower fees, more benefits, higher credit limits, and other advantages, so you may qualify for a better deal.
First National Bank Visa® Credit Card Important Details
Basic Card Details
- Credit card issuer: First National Credit Card
- Annual fee: $49–$75
- Regular APR: 29.90% (fixed)
- Grace period: 25 days
- Credit limit: $350–$1,500
Additional Information
- Cash advances available (with a fee).
- Credit limit increases may be available.
- Balance transfers are not available.
- Credit reporting to all three major bureaus.
- You can add authorized users to your account.
- Fraud coverage for unauthorized use of lost or stolen cards.
- Visa® credit card benefits (e.g., emergency card replacement, ID theft protection, theft coverage, and a roadside assistance program).
- Optional payment protection plan available.
First National Bank Visa® Credit Card Feature Breakdown
In this section, we’ll review some important features of the First National Bank Visa®.
Fees
- Annual fee: $49–$75
- Cash advance fee: 2%
- Foreign transaction fee: Unspecified
- Authorized user fee: $20 per year per additional cardholder
- Late/returned payment fee: Up to $25
One major problem with the First National Bank Visa® credit card is the annual fee, which is expensive for a card that doesn’t offer any cashback rewards or notable benefits.
Interest Rates
- Regular APR: 29.90% (fixed)
- Cash advance APR: 29.9%
- Penalty APR: None
- Minimum interest charge: None
If you don’t pay off your First National Bank Visa® balance in full each month, you’ll be charged interest. The interest you’ll pay in a year is called your APR (“annual percentage rate”).
Notably, the First National Bank Visa® doesn’t have a penalty APR (an increased APR that credit cards charge if you miss payments). But it’s still important not to miss payments, otherwise you could incur fees and lose points from your credit score.
The fixed APR is also unusual. If you have a fixed APR, it means your interest rates won’t fluctuate based on the banks, as happens with many credit cards. However, the interest rate on this card is already notably high at nearly 30%.
Grace Period
The First National Bank Visa® gives you a grace period of 25 days (beginning on the first day of the new billing cycle). The grace period allows you time to pay your bills in full without racking up any interest charges.
If you pay off your balance in full by the due date, your purchases during the grace period won’t accumulate interest. However, if you carry a balance from previous billing cycles, you’ll have to pay interest on any charges you make to your card during the grace period.
Rewards
The First National Bank Visa® unfortunately doesn’t offer any rewards.
While rewards programs are rarer in cards for low or limited credit scores, they do exist. For example, Petal credit cards offer cashback rewards to borrowers without credit histories, and the Discover It® Secured Credit Card has a rewards program for bad-credit borrowers.
If rewards are important to you, keep shopping for a better deal.
Benefits
The benefits you get with the First National Bank Visa® Credit Card are:
- Roadside dispatch: This gives you access to a pay-per-use emergency roadside assistance program (e.g., for towing or fuel delivery).
- ID theft protection: This includes monitoring of the dark web for any fraudulent use of your personal information.
- Zero fraud liability: This means you get reimbursed for any fraud losses that result from unauthorized use of your account.
- Fraud protection: This service detects any abnormal spending patterns or other unusual activity on your credit card account and then alerts you.
- Visa Offers + Perks: This gives you discounts and savings on food and wine, shopping, sports, entertainment, and more.
- Optional PREMIUM Club Membership: For $4.95 per month, this program gives you exclusive discounts on various products and services (e.g., hotels, dining, car rentals, entertainment, and even filling up prescriptions).
- Optional payment protection program: You have the option to join this by paying $0.89 for every $100 you have in debt. The program allows you to cancel some of your debt if you lose your job, become disabled, need to go to the hospital, are called up for jury duty, take military leave, or take certified family medical leave (to care for children or for a family member with a serious medical condition).
Most of these benefits are standard across Visa® and Mastercard® credit cards.
Cash Advances
A cash advance is when you use your credit card to take money out at an ATM. Cash advances are one of the features you get with the First National Bank Visa®.
The First National Bank Visa® cash advance APR is the same as the purchase APR at 29.9% (fixed). There’s also a cash advance fee of 2%. This fee is quite low, as many cards charge cash advance fees between 3%–5%.
Balance Transfers
A balance transfer is when you move debt from one credit card to another (which is a common form of debt consolidation). The First National Bank Visa® doesn’t advertise balance transfers as a feature.
If you need a card to help you consolidate debt, look for one that offers balance transfers and, ideally, has a low balance transfer fee.
Foreign Transactions
The First National Bank Visa® card agreement doesn’t mention foreign transactions, so we contacted the customer service team to find out whether you can use the card abroad. They told us that foreign transactions are indeed available. However, they couldn’t tell us any specifics about what fees might apply.
Many credit cards that allow foreign transactions charge fees equivalent to 1%–3% of the transaction amount, whereas others don’t charge a foreign transaction fee at all. If you get a First National Bank Visa® offer that doesn’t include information about foreign transaction fees, we recommend contacting customer service to find out whether fees will apply in your specific case and how much they’ll be.
Credit Limit
The First National Bank Visa® agreement doesn’t specify what your initial credit limit will be. When we spoke to customer service, they told us that you can expect a credit limit of $350–$1,500. You may also be able to get a credit line increase if you keep your card account in good standing and make payments on time.
Note that the First National Bank Visa® will also take your annual fees from the available credit you’re initially given. So if you have an initial credit limit of $375, for example, and you get an offer with an annual fee of $75, your initial available credit will be $300 until you pay off your balance.
Credit Reporting
Credit reporting is an important part of credit building. Your credit report is a record of information about your account that lenders send to the credit bureaus—potentially including positive information like timely payments and negative information like late or missed payments. Lenders aren’t legally required to report your credit history, so it’s important to find a credit card issuer that does.
The First National Bank Visa® credit card reports to all three major credit bureaus.
Credit Building
Because the First National Bank Visa® reports to all three of the major credit bureaus, it’s excellent for credit building. However, you must be careful about keeping up with your monthly payments. Your credit may suffer if your payments are late.
Credit Score Requirements
The First National Bank Visa® issuer doesn’t specify any credit score requirements.
However, when we contacted them, the customer service team explained that their cards are suitable for building or rebuilding credit and that holders of limited credit or even bad credit may be eligible.
FICO scores under 580 are considered bad, so even if your score is below that, you may still qualify.
1Application and Approval
If you’ve received an offer in the mail from the First National Bank Visa® credit card, you can respond online by going to the website and entering your reservation number and access code (which you’ll find on the acceptance form you were sent). Unless you’ve received an offer in the post, you can’t apply.
Note that you may lose points from your credit score when you apply for the First National Bank Visa®. Your application will probably trigger a hard inquiry, also called a hard pull or hard credit check. If this happens, it’ll knock a few points off your credit score; however, the effect won’t last long, and your score will recover within a year.
Managing Your Account
You can login and manage your First National Bank Visa® account online—including paying your bills. There’s also an Android app or an iOS app you can download.
As well as paying online, you can pay your First National Bank Visa® credit card bill:
- By phone: Call the First National Credit Card customer service line on (888) 883-9824 to pay by phone. You can pay using your checking account or with a debit card.
- In person: Make payments through MoneyGram (using code 3888) or Western Union (using Code City/State: FNCC/SD).
- By mail: To pay by mail (e.g., with a check or money order), write your credit card account number on your payment, and send it to First National Credit Card. Most credit cards will send you a payment coupon with your billing statement.
The address for sending First National Bank Visa® payments via regular mail is:
First National Credit Card
PO Box 2496
Omaha, NE 68103-2496
Additional Cardholders
You can add authorized users to your First National Bank Visa® account so that other people can use it (e.g., family members or your partner). This will cost $20 per year for every additional cardholder.
Customer Service
If you need help with your First National Bank Visa® card, get in touch with customer service by phone at (888) 883-9824.
You can also write to:
First National Credit Card
PO Box 5097
Sioux Falls, SD 57117-5097
Lost or Stolen Cards
If your First National Bank Visa® is lost or stolen, or if it’s used without your permission, call (888) 883-9824.
Should You Get the First National Bank Visa® Credit Card?
FinanceJar Verdict
The First National Bank Visa® has high annual fees, a high APR, and a potentially low credit limit. There are also no rewards and little in the way of benefits, making it a not highly recommendable card.
Overall, this card is a bit too expensive, so it certainly isn’t the best deal out there. As such, if you’ve received an offer in the mail, we recommend that you put a pause on your application until you’ve checked out other cards; you’ll likely find something with cheaper fees and better benefits.
If you’re worried about your credit score, get started with these:
Who is this card for?
- Borrowers who don’t want to pay a security deposit: Although the First National Bank Visa® doesn’t require a deposit, you’ll still have to pay annual fees of $49–$75 to get your card. This fee will come from your initial credit line, so you won’t need to pay it immediately; instead, you’ll get a reduced line of credit..
- People who have received a prequalified offer: You can only apply for this card if you’ve received a prequalified offer in the mail. If you’ve already received an offer, you’ll have a good chance of getting approved when you apply for the card.
